September 21, 2017

Belt and Road business service center launched in FTZ

The Belt and Road Technical Trade Measures Enterprise Service Center was unveiled last Thursday in Shanghai Free Trade Zone.

A “Belt and Road Initiative Trade Measures” memorandum of cooperation was signed at the ceremony by representatives of the General Administration of Quality Supervision, Inspection and Quarantine, Development Research Center and Shanghai FTZ administration.

As a test site for the Belt and Road Initiative, Shanghai FTZ is taking a leading role in promoting Chinese enterprises to the world. It aims to create a model FTZ with a facilitated trade system, multilateral recognition mechanism, standardized market environment and a product tracing system.

The FTZ is working hard to introduce faster clearance procedures, better technical protocols, product standards, and favorable policies for the origin countries of products.

It also smoothes the way for Chinese exporters to get into Belt and Road countries’ markets by reducing technical barriers as well as helping foreign companies get into the Chinese market.